RIM's Profits Rise in Q4
The maker of the BlackBerry wireless email device reported income of $187.9 million, or 99 cents a share, in the three months ended March 3, up from $18.4 million a year ago. Revenue for the fourth quarter was $930.4 million, up 66 percent from the same quarter last year. Revenue for the fiscal year was $3 billion, up 47 percent from last year. Analysts were expecting earnings of 99 cents a share on revenue of $935.35 million, according to Thomson Financial .
The company stressed in its earnings release that the results are preliminary, pending a restatement related to an internal investigation of RIM's stock option grants in previous years.
RIM says it shipped around 6.4 million devices during fiscal 2007. Over a million new BlackBerry subscribers were added in the fourth quarter. Handhelds accounted for approximately 73 percent of its revenue in the quarter.
We'll have updates after RIM's conference call tonight.
— Dan Jones, Site Editor, Unstrung